Reading The Tape! 📜 (Day Trading Must!)

When a trader is first beginning to develop a strategy there are many small details that tend to get overlooked, typically due to a lack of knowledge. One of those skills is how to properly read the tape. ****** Watch our Live Trading show, Monday to Friday from 9 am to Noon! / tradertvlive
Understanding the information that is being displayed to you, the importance of it and what to do with that information is vital to any trader attempting to become consistently profitable!
In this video we'll take an in-depth look at both the Time and Sales window and also the Level II. Learn what information is important and how to use that information to your advantage. We'll show you multiple concepts the pros use on a daily basis to help take you trading to the next level.
Trading starts and ends with the depth of market or level II and the time and sales window, so often traders will get attached to staring at charts which in the end only show you what has already happened.
Understanding the knowledge of the depth of market and time and sales will dramatically increase your chances of becoming a consistently profitable trader!
.⏳ Outline:
0:00 - Intro
0:45 - What are the numbers on the Time and Sales showing us?
2:14 - Speed is everything!
4:45 - How do we incorporate tape reading into day trading?
5:30 - Where are the "Big Players" on the tape?
7:20 - Understanding market centers and dark pools
9:21 - Momentum trading using the Time and Sales
12:44 - Summary
Trading Software: daytradetheworld.com/trading-...
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Watch our Live Trading show, Monday to Friday from 9 am to Noon! / tradertvlive
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[@josiahpitman]

This was one of the better ‘reading the tape’ videos on KZbin. I like that you guys are to the point, clear, and actually show some of what you’re talking about.

[@MoreTraderTVLive]

Glad you liked it! Please stay tuned, we post educational content everyday!

[@michaeljohnregalado4798]

I have an idea for you guys. What if the show is moved 15 or 30 minutes back, finish 15 or 30 minutes earlier. You guys can go more in depth with what’s on watch in the morning and the levels

[@BoogieBoyBrown]

I actually finally started to understand what Time & Sales and Level 2 Charts are now, after watching this video! It'll be a while before I can start to implement these in my trading, but at least now I can have it open on my trading screen and not be intimidated by it

[@juniorgonzalez2344]

I feel ya bro. Feel the same way. Best of luck with your trades. 🤙🏽

[@MoreTraderTVLive]

Happy to hear! Keep learning and practicing! Please stay tuned, we post educational content everyday!

[@The_Roman_Trader]

awesome, Thank you for sharing this great content.!!! Quick question though, if a print occurs on the ASK, is it considered a BUY order? thank you

[@CatamaranChannel]

Very usefull content form start to finish!

[@MoreTraderTVLive]

Glad it was helpful! Please stay tuned, we post educational content everyday!

[@softwaredeveloper4304]

Thank you I always worked off of the ask alone I called it a triple or stumble up , I am sure there is a proper name for that kind of price action, that think that happens right before a break. O and the VWAP good stuff thank you and keep it coming.

[@MoreTraderTVLive]

Thank you for the feedback! Please stay tuned, will be getting only better!

[@williamamodeo1197]

This is great guys! There’s not much out there about reading the tape. One of the biggest questions I have is that when it comes to time and sales and L2 and order entry system what is the most affordable software new or old to start with this? Is IBRK’s TWS okay? Light speed? But what’s an affordable version that doesn’t cost 300/month. What’s respected I guess for example in a prop firm to use?

[@viahttp]

Do you teach tape reading? Do you guys have course on how to tape read, i am happy to buy & learn.

[@MoreTraderTVLive]

Not yet! Please subscribe and stay tuned, more educational content is coming!

[@MrSuperchargedv8]

What is going on when orders are "absorbed". Ive head the term a few times and I've seen instances where multiple huge sell order is coming thru but not much movement happens. Is that what the term refers to and if so what's the deal with that?

[@MoreTraderTVLive]

it's not a technical term, hosts just use it to describe a large completed order without significant price movement! Please stay tuned, we post educational videos everyday!

[@surfsunsand]

So when I BUY shares does it show up on the Bid or Ask side? So If a bunch of people are buying the shares the price would go up and you would see it on the Bid or Ask?"... Does the size of the yellow box on the Bid or Ask represent more orders?. Size of the yellow box does not matter with size because five 1 sellers/buyer (500) is smaller than one ten 1 seller/buyer (1,000).

[@MoreTraderTVLive]

Please subscribe to see more educational videos!

[@kiklocus4660]

what platform is that?

[@MoreTraderTVLive]

Shawn and Neal use the PPro8 Trading Platform. Learn more: dttw.com Please subscribe, more educational videos are coming!

[@phillipayala3207]

Wouldn’t the bid be buyers & ask be sellers?

[@tomwalker4162]

Great video is there complete course on it, will to pay for it

[@MoreTraderTVLive]

Glad you liked it, for now we do not have a course, but please stay tuned - we are preparing something for you!

[@MissBardoJeep]

lol...sorry but, like, relax...

[@j0m0z]

Why does This channel promote DDTW, but exclude Americans? Are these guys Canadians? I don't get get it. Their "open a trading office" for $500 and trade our money looks a bit scammy. Removal of this post will confirm my suspicions.

[@j0m0z]

sorry ^DTTW - Day Trade The World

[@MoreTraderTVLive]

Thanks for your comment and interest. Unfortunately, due to the laws and regulations in force in your jurisdiction, DTTW cannot operate in the U.S. and/or with U.S. citizens. DTTW would appreciate it very much to establish new offices in the U.S. but at this time it's not possible. We'll keep you updated in case things change.